I’ve come across this great one bedroom apartment in West Derby that is available through Acumen Estates for £57,950.
It looks as though there has been a female owner occupier and they have decorated the property to a high standard. The property is best described as a one bedroom maisonette, which means the property looks like a house but one flat is located on the ground floor and the 2nd flat is located on the 1st floor. The ground floor flat maintains the rear garden and the 1st floor flat maintains the front garden.
This property looks as though no works need to be done at all to rent it out due to the high condition it is in and would achieve between £400pcm & £425pcm and if the purchaser could negotiate the price down near £50,000 then this investment could see a potential gross yield of 10%.
Unlike most apartments, you do not pay a service charge but you would be liable for your own insurance on your section of the building as well being liable for any roof repairs or maintenance as this flat is located on the first floor.
I own a similar property to this and the insurance is a similar cost to standard insurance although not all providers will insurance on this specific building.
The recently sold similar properties have gone for between £45,000, £60,500 and £62,500 in 2015 with the lowest needing full modernising so this does seem like a good deal to me.
Click here to take a look at the recently sold prices (click on the H Property History, to see the previous property advert)
As always, I welcome any comments regarding my blog or this deal